HCA & Tenet: 10 Key Facts | Becker’s Hospital Review
HCA Healthcare and Tenet Healthcare go head-to-head: Discover the key differences between these healthcare giants.This report unveils that HCA operates significantly more hospitals and employs a larger workforce, while Tenet leads in ambulatory surgery centers. You’ll get a side-by-side comparison of their facilities, financial performances, and strategic moves, including HCA’s focus on expansion and Tenet’s streamlining efforts. With contrasting strategies in place, the healthcare industry will be watching closely. This detailed analysis, also available via News Directory 3, provides a clear view of these two major players. Discover what’s next for HCA and Tenet.
HCA Healthcare vs. Tenet: A Financial and Facilities Comparison
Updated May 25, 2025
HCA Healthcare, based in Nashville, Tenn., and Tenet Healthcare, headquartered in Dallas, are major for-profit health systems in the U.S. A comparison reveals differences in their facilities, personnel, and financial performance. This analysis provides insights into their respective strategies and market positions within the healthcare industry.
HCA Healthcare operates 192 hospitals and 125 ambulatory surgery centers. Tenet Healthcare has a smaller hospital footprint wiht 49 facilities but a larger ASC network of 520 centers. In terms of workforce, HCA employs 316,000 individuals, including 44,000 employed and affiliated physicians. Tenet employs 100,000,with approximately 6,000 physicians.
Financially, HCA Healthcare reported $70.6 billion in annual revenue and $5.7 billion in annual income. Tenet Healthcare reported $20.6 billion in revenue and $2.3 billion in income. HCA’s debt stands at $44.6 billion,while Tenet’s is $12.7 billion ($9.7 billion net debt).
Regarding strategic moves, HCA Healthcare expanded its network by adding four hospitals, including Catholic Medical Center in Manchester, N.H., focusing on organic investments. Conversely,Tenet Healthcare reduced its hospital count from 61 in 2023 to 49 by the end of 2024,generating $4.8 billion from selling hospitals in South Carolina, California, and an ownership stake in an Alabama hospital.
HCA Healthcare updated its executive bonus structure, linking compensation to clinical and financial performance. Tenet Healthcare CEO Saum Sutaria, MD, reported that the company’s earnings and cash flow exceeded expectations in the first quarter, driven by strong same-store revenue growth.
Looking ahead to 2025,HCA Healthcare projects revenue between $72.8 billion and $75.8 billion,with adjusted EBITDA between $14.3 billion and $15.1 billion. Tenet Healthcare anticipates net operating revenues of $20.6 billion to $21 billion and adjusted EBITDA between $3.97 billion and $4.17 billion.
What’s next
Both HCA Healthcare and Tenet Healthcare are positioning themselves for future growth through diffrent strategies. HCA focuses on expanding its existing network, while Tenet is streamlining its operations and focusing on ambulatory services. the healthcare industry will be watching closely to see which approach yields the best results in the coming years.